The actions people take are determined by potential welfare gains. Indeed, the gains from trade are what brings buyers and sellers together in markets. Unfortunately, however, not all private actions raise social welfare when markets are subject to taxes of other distortions. This course obtains general equilibrium shadow (or social) prices to identify welfare improving policy changes in these circumstances.
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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Requisite and Incompatibility
You will need to contact the Research School of Economics to request a permission code to enrol in this course.
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- 6 units
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